By Kimberly Chin
Sorrento Therapeutics Inc.'s shares rose 4.3% after hours to $9.25 after UK regulators cleared a Phase 2 study for the company's Covid-19 nasal drops in newly diagnosed Covid-19 patients.
The Phase 2 trial of Covi-Drops will involve around 350 outpatients with Covid-19 who are either asymptomatic or have mild symptoms compared with a placebo.
This will complement trials in the U.S. and a separate trial in Mexico, the biopharmaceutical company said.
The Covi-Drops are intranasal drops that will have antibodies that fight against the Covid-19 virus, as well as some of its new variants.
Write to Kimberly Chin at [email protected]